Link Ventures Marks Successful Exit From Portfolio Company TodayTix
Early-Stage VC Investor Receives Curtain Call as Global Entertainment Media Platform Prepares for Next Act
Cambridge, MA, June 10, 2019 — TodayTix, part of the Link Ventures cast of companies since 2013, recently announced a $73 million growth equity investment led by Great Hill Partners. As a result of that transaction, Link Ventures — together with most other stockholders — was cashed out of its position in TodayTix. This latest exit in the Link Ventures track record carried with it positive returns for the firm, as well as positive impressions left with TodayTix and its management team.
Led by Managing Partner Dave Blundin, Link Ventures placed an early bet on TodayTix and its CEO and Co-Founder, Brian Fenty. According to Blundin, “The data showed the ticketing space to be worthy of our attention, but Brian’s drive and leadership are what ultimately sold us on the investment.” Link Ventures later augmented its seed-stage and Series A interests in TodayTix by investing additional capital as recently as 2018. Post-exit, Blundin described Fenty as “exactly the kind of enterprising CEO we look for — not only in our outside companies, but also for our homegrown businesses coming out of Cogo Labs.”
For his part, Fenty applauded Blundin’s vision as an entrepreneur and expressed gratitude for the support Link Ventures has given TodayTix since its earliest days: “Dave is operating a mind-numbing brain trust up there in Cambridge, with petabytes of data assets making his VC firm unlike any other I’ve worked with. Yes, having Link’s funding was critical for us at TodayTix, but just as important was having the backing of one of the most prolific and proven internet entrepreneurs in the Northeast.”
Although Link Ventures no longer holds an equity position in TodayTix, the firm and the company’s CEO expect to remain in touch. Fenty, who attended the annual “Friends of Link Ventures” gathering in Vermont last fall, hopes to retain his spot on that event’s exclusive guest list. “Dave invited me to come back to Woodstock before any of us knew that the growth round was going to happen,” he remarked. “I made sure that none of the deal docs yanked my invitation, so I’m planning to be there with ‘emeritus’ status.” Fenty added, “Spending a couple of uninterrupted days with Dave, his Link team, and other CEOs from within their portfolio is invaluable. One would be hard pressed to find a room filled with as much experience with driving and monetizing online traffic. And the setting and the food are great too!”
About Link Ventures
Based in the innovation hub of Kendall Square in Cambridge, Link Ventures is a venture capital firm dedicated to investing in consumer internet technology companies that demonstrate early virality and capital efficiency. Link Ventures and Cogo Labs, its wholly-owned incubator and accelerator of internet companies, were both founded by serial entrepreneur Dave Blundin. By leveraging the proprietary data assets housed within Cogo Labs, Link Ventures can identify promising new vertical markets while help to drive traffic and build online audiences for the companies in its portfolio.
TodayTix is the premier digital gateway to shows, arts and cultural experiences. Through its mobile-first, design-focused ticketing platform, TodayTix is the place for audiences to discover, explore and engage with the best entertainment their city has to offer. The New York City-based company works with more than 1,300 partners to provide the best-priced tickets available in 15 markets around the world. Since TodayTix was launched in 2013 by lifelong friends and fellow Broadway producers Merritt Baer and Brian Fenty, the company has engaged more than 5 million users to connect beyond ticketing into new cultural experiences that bring human interaction back to our digital world.